A.M. Look 6/7/19

Oil rally has not yet turned the very long-term 100X3 P&F up
to confirm this weeks low as an interim bottom.Oil is trading unchanged on the week. The 25X3 Point & Figure shows it will take sustained price action above 54 to turn the 100X3

Indices show engulfing Bullish patterns with ORH weeks working.

Risk spreads; Nasd has the most room for upside.

Spoo pit currently will have a gap @ 2851
Nasd pit currently will have a gap @ 7299.25

Midcap is into Fib resistance.

Index price action will revolve around how they hold an initial break.
By holding early and rebounding, investors will be looking for names to pick up that still look reasonable
when NYSE opens.

This entry was posted in Archive and tagged , , , . Bookmark the permalink.